The evidence that sustainability, or ESG, has financial relevance continues to grow. As we look for reasons why sustainability seems to be associated with good performance, risk has emerged from the literature as one of the main contributors.

Think of sustainability analysis the same way you think of financial analysis. Different approaches to the same multifaceted problem are a source of innovation, a way that smart and insightful people can distinguish their work.

The earth’s climate is becoming warmer because of things we (humans) have done. Since the climate, along with the atmosphere and water, forms the infrastructure of our lives, climate change will affect us pervasively.

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You should always consider Pax World Funds' investment objectives, risks, and charges and expenses carefully before investing. For this and other important information, please download a fund prospectus. Please read it carefully before investing.

Investments involve risk, including potential loss of principal.

Pax Global Opportunities Fund Footnotes

Risks

Equity investments are subject to market fluctuations, the fund's share price can fall because of weakness in the broad market, a particular industry, or specific holdings. Emerging market and international investments involve risk of capital loss from unfavorable fluctuations in currency values, differences in generally accepted accounting principles, economic or political instability in other nations or increased volatility and lower trading volume. The Pax Global Opportunities Fund is new and has a limited operating history.

About Expenses

Total annual Pax Global Opportunities Fund operating expenses, gross of any fee waivers or reimbursements, for Institutional Class and Investor Class shares are 1.81% and 2.06%, respectively, as of 6/26/2018 prospectus. The Pax Global Opportunities Fund’s investment adviser has contractually agreed to reimburse expenses (other than interest, commissions, taxes, extraordinary expenses and Acquired Fund Fees and Expenses, if any) allocable to Institutional Class and Investor Class shares of the Pax Global Opportunities Fund to the extent such expenses exceed 0.98% and 1.23% of the average daily net assets of Institutional Class and Investor Class shares, respectively. This reimbursement arrangement may not be amended or terminated without the approval of the Fund’s Board of Trustees before December 31, 2021.